The Steve Forbes Flat Tax Form

September 15, 2005

On page 73 of Flat Tax Revolution, Steve Forbes gives and example of what his flat tax form would like. As my example below shows, it is a lot simpler:

The Steve Forbes Flat Tax Form

Line Item


1. Wages & Salary

2. Number of Adults in family

3. Number of Children in Family

4. a) Deductions for adults (multiply line 2 by $13,200) or
b) Deductions for head of household ($17,160)

5. Deductions for dependants (multiply line 3 by $4,000

6. Total deductions (line 4 plus line 5)

7. Taxable income (line 1 minus line 6)

8. Pre-credit tax (multiply line 7 by 17%)

9. Child tax credit ($1,000 per child under 16)

10. Earned income credit (see EITC rules)

11. Total tax credits (line 9 plus line 10)

12. Total tax (line 8 minus line 11)

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